RIYADH, 17 October 2005 — Saudi Arabia’s Capital Markets Authority has approved capital increases for Saudi Fisheries and Gazan Agricultural Development, the CMA said yesterday. But it said it denied a request by Mawashi United livestock transport company to increase its paid up capital by 50 percent to SR1.8 billion ($480 million), citing what it said were concerns about company accounts. The CMA said it approved a request from Saudi Fisheries to double its paid-up capital to SR200 million through a rights issue of 2 million shares. The shares will be priced at SR75 each, made up of SR50 nominal price and a SR25 premium. The authority also approved Gazan’s bid to double its capital to SR500 million through a rights issue of 5 million shares. Those shares will also be priced at SR75, made up of SR50 plus a SR25 premium.